Big jump in March new vehicle sales

Though there has been the distraction of the pending general elections March was a very good month for the car companies as the Total Industry Volume (TIV) jumped by a whopping 28% or 12,646 units over the February TIV. The TIV was also 8% higher than that for the same month in 2012.

Cumulative sales after 3 months totalled 157,664 units which were 14% higher than for the same quarter in 2012 (138,544 units), a period when Honda, a major played had no cars to sell due to its Malaysian plant being shut down for many months.

The March February TIV consisted of 50,562 passenger vehicles (excluding pick-up trucks) and 7,060 commercial vehicles (including pick-up trucks).

The assembly plants produced a total of 49,034 vehicles, of which 44,380 units were passenger vehicles. This was 8% higher than for the same month in 2012 though output of commercial vehicles dropped by 16% to 4,654 units.

The Malaysian Automotive Association (MAA), which has been compiling and sharing the data for over 50 years, does not see April sales being higher than March. It is evident that there are many people with a ‘wait-and-see’ attitude, believing that prices will be reduced after the elections so they would rather wait another month before making their purchase.

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[CY]